A Rabbit is a farm animal that can be purchased at Marnie's Ranch for data-sort-value="8000">8,000g, once you own a Deluxe Coop that is not full. A rabbit cannot reproduce. If you listen closely, you can hear a rabbit make a soft sniffing sound when it is petted.
Produce
A mature Rabbit has a chance every morning to produce Wool, which sells for data-sort-value="340">340g. You do not have to shear rabbits to get wool, as they will drop it on their own. Over time, as friendship with the farmer increases, it can also produce Rabbit's Foot, which sells for data-sort-value="565">565g.
A baby rabbit is mature on the sixth morning after it is purchased, if it is fed every day. That is the morning when there is the first chance that it will drop wool in the coop.